Outlook Wealth Advisors LLC Has $897,000 Stake in Tapestry, Inc. (NYSE:TPR)

Outlook Wealth Advisors LLC lowered its position in shares of Tapestry, Inc. (NYSE:TPR) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,728 shares of the luxury accessories retailer’s stock after selling 317 shares during the period. Outlook Wealth Advisors LLC’s holdings in Tapestry were worth $897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Waldron Private Wealth LLC acquired a new position in shares of Tapestry in the third quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in Tapestry during the third quarter worth approximately $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Tapestry in the second quarter worth approximately $68,000. Abich Financial Wealth Management LLC acquired a new position in Tapestry in the second quarter valued at approximately $69,000. Finally, Deseret Mutual Benefit Administrators boosted its holdings in shares of Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after buying an additional 605 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TPR shares. UBS Group lifted their price objective on shares of Tapestry from $57.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Telsey Advisory Group upped their price objective on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Jefferies Financial Group raised Tapestry from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.00 to $80.00 in a research report on Thursday, December 19th. Raymond James reiterated an “outperform” rating and issued a $57.00 price target (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. Finally, The Goldman Sachs Group upped their target price on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.76.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.18% of the company’s stock.

Tapestry Stock Down 0.0 %

TPR opened at $67.64 on Thursday. The firm has a market capitalization of $15.76 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.82 and a beta of 1.58. Tapestry, Inc. has a one year low of $35.23 and a one year high of $69.60. The company has a fifty day moving average price of $61.75 and a 200-day moving average price of $49.38. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a $0.35 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.07%. Tapestry’s payout ratio is currently 40.46%.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.